Shop! Insights

Retail business is changing fast and staying on top of the latest advances, theories and practices can be a full-time job. While the Shop! MarketPlace team can't do your reading for you, we can keep up with the latest retail news (including articles from our own SmartWork Media publications!), curate and summarize. That's what we're sharing here. We hope these articles help inform and inspire you.

Part 5 of INSTORE Magazine’s Look at Plumb Club Research

The Plumb Club's research on post-pandemic jewelry highlights the diamond industry's future growth, with Millennials favoring high-end colored jewelry.

The Mall is Alive and Well

Malls can thrive in post-pandemic retail landscape if they provide people with what they want, such as leisure activities and a hub for communities.

Economic Outlook as Back-to-School and Holiday Orders Begin

Holiday shopping begins in June, with retailers facing inventory challenges and uncertainty. Inflation may fall, but increasing interest rates may trigger a drop in consumer spending.

Survey of Gen Z Shoppers: We Expect Personalization and Sustainability in the Future

Shopper of 2040 will prefer still in-store experiences but will expect augmented reality and more personalization, INSTORE Magazine reports.

Reconsidering the Retail Experience Through Immersive Design

Ghalia Boustani outlines the importance of visual merchandising and storytelling elements to engage customers and build a brand.

Business Software AI Integrations

AI applications in retail include customer personalization, inventory management, fraud prevention, supply chain management, and customer service enhancement.

How to Sell to Both Rational and Emotional Purchasers

The article discusses buying decisions as rational and emotional and how marketing should emphasize features, customer reviews, transparency, and FOMO to appeal to these buyers.

Consumers Expect Recession, Cut Spending

Northwestern Mutual's 2023 Planning & Progress Study shows 67% of US adults anticipate a recession in 2023, adjusting spending and preparing for long-term risks.

Addressing Common Delivery Problems for Retailers

Retailers face a variety of challenges with delivery, including dealing with third-party delivery services and hiring and training an entire new department.

Shopify to Lay Off Workers Despite Billion-Dollar Revenue

Shopify is laying off 20% of its staff due to the sale of its logistics business to Flexport, which gives them 17% of Flexport's stock and the right to name a director.

Adidas to Sell Yeezy Merchandise, Donate Proceeds to Charity

Adidas plans to sell Yeezy inventory after axeing a controversial celebrity endorsement. Proceeds will go to charities combating discrimination and hate.

Retail Leads All Sectors in Job Cuts in April

A new study from business coaching firm Challenger, Gray & Christmas Inc reports retail is leading all sectors in job cuts, with 15,000 jobs lost this month, an 843% increase from 2022.

Consumers Need More Education on Mined and Lab-Grown Diamonds: Plumb Club Study

Consumers are not confident in their knowledge of the differences between mined and lab-grown diamonds, with 39% believing LGD possess only some of the same properties as a mined diamond.

Drug Store Shoppers Buying More Than Prescriptions

Consumers prefer drug stores over grocery stores for convenience, lower prices, and faster trips. 70% shop for non-prescription needs, 69% for groceries, and 1 in 3 live less than a mile away.

How Inflation Affects Mother’s Day Spending

Inflation has caused prices of traditional Mother's Day gifts to increase, potentially affecting retailers as consumers are cutting spending across the board.

Gap to Lay Off 1500 Corporate Workers

Gap is cutting 1800 employees to increase efficiency and make better decisions, following a year of falling sales, high inventory, and turmoil at the top.

Evening Comes for Tuesday Morning as Retailer Set to Close Doors

Tuesday Morning is going out of business after declaring bankruptcy and selling its remaining inventory at 30% off due to failed sales and attempts to gain funding.

Consumers Still Spending Big on Groceries Despite High Food Prices

Consumers are buying more groceries but seeking savings amid higher food prices. They opt for deals, bulk purchases, store brands, and reduced fresh produce.

How Can Retailers Capture Consumer Data to Produce Personalized Marketing?

Retailers face a "black hole" in their personalization efforts due to an inability to recognize return visitors and those returning via another devices.

Shoppers Want More Curation, Not More Choices

Consumers are looking for personalized service, the kind of service they can't get online. Synchrony's survey finds that shoppers expect fully curated shopping experiences to be the norm by 2030.

Shoppers Prefer Free Shipping to Fast Shipping

Merchants must optimize their operations to offer free shipping and returns in order to attract and retain consumers, as 66% of those surveyed do not offer free shipping.

The Importance of Retail Assortment Strategies

The most important idea is to understand your customers and why they choose you to stock a wide, but not very deep, assortment of products.

Plumb Club Study on Consumer Activity Online and on Social Media

70% of shoppers research jewelry purchases online, with convenience being the main reason for making a purchase.

Plumb Club Releases New Research on Jewelry Shopping Trends

Retail websites and word of mouth are key factors in choosing jewelers, with 42% choosing an independent or local jeweler and half choosing a national chain.

Consumers Spending Less on Discretionary and Essential Purchases Alike

Retail sales have been declining since 2019, and retailers must innovate to create "spending elevation" to keep up with consumer spending.

Bulova Announces New Ladies’ Watch Collection

American luxury watch brand Bulova has released their Duality collection. They are offering two different models: a stainless steel version and a gold-plated version.

New Survey Suggests Post-Covid Customers Unhappy with In-Store Experiences

A survey by Theatro finds that consumers are less satisfied with their in-store shopping experience due to a labor shortage and understaffed stores.

Omnichannel Experience: The Key to Gen Z

This article from Experience Retail Today reiterates that good customer experience is key to reaching Gen Z customers.

Record-Breaking World’s Longest Bar Opens in Tennessee

Humble Baron, a music venue in Shelbyville, TN will open the world’s longest bar on March 23.

Ecommerce Growth Slows as Shoppers Return to Stores

According to GlobeSt.com, ecommerce sales have stalled at 15% of total retail sales after experiencing rapid growth during the pandemic. Ecommerce is expected to reach 20% of retail sales around 2030.

Intelligence Node Surveys Gen Z Consumer Behavior

Gen Z is a well-informed and demanding generation, and retailers are adapting to meet their needs.

Luxury Spending High Despite Tough Economy

Despite economic struggles for many Americans, luxury spending is expected to remain high, driven by financial comfort and social media influence.

BOPIS and Delivery Robots on the Decline, Report Says

Instore Magazine's report discusses the impact of the pandemic on ecommerce. Services such as buy online, pick up in-store and other tech-driven services are becoming less attractive to consumers.

Innovation in Retail Webinar

Retail innovation is essential for success in the post-Covid retail landscape.

Building Customer Relationships with The Plumb Club

The Plumb Club podcast provides advice on building relationships with customers, focusing on lab-grown diamonds and engagement rings.

Slow December Sales Suggest Recession, But Independent Retail Grows

Data from the US Census Bureau shows that retail and food sales fell 1.1% in December from November, but were up 6% from December 2021. For the year of 2022, retail sales were up 9.2% from 2021.

Retail Jewelry Growth in 2022

The article breaks down openings and closings by category, covering retailers, wholesalers, and manufacturers.

Is Lack of Investment in Worker Experience Driving Away Employees?

A common complaint concerning the retail worker shortage is that “no one wants to work anymore.” But a new survey by WorkJam suggests that a lack of investment in employee experience is to blame.

Turning “Out of Stock” into Outstanding Service

This article by Bob Phibbs offers some advice to retailers on how to challenge employees to think on their feet to make a sale.

Want to Start an Offline Business? Start Here.

This article from Small Business Trends points out some of the benefits of building an offline business in 2023 and then gives a few tips on how to do it.

Can Discovering Your Ancestry Help You Succeed in Business?

Wilkins-Smith recently appeared on The Small Business DNA testing Radio Show to discuss a host of ancestry-related topics and their connection to performance and potential in business.

The Benefits of Using a Merchandising Service

Retailers must provide more than products to customers. They want experiences that they can’t get online. In order to deliver these, retailers might want to consider hiring a merchandising service.

Ten Tips for Boosting Customer Loyalty from Bob Phibbs

Brick-and-mortar retail expert Bob Phibbs, known as “The Retail Doctor,” offers his tips for creating customer loyalty through an omnichannel approach.

How Employee Experience Creates Customer Experience

This article by Shep Hyken, customer service expert, argues that in order to deliver excellent customer experience, you must first address employee experience.

2023 Forecast: Consumer Packaged Goods

Consumers look to spend their dollars on brands they can trust. Successful brands will have to connect authentically with consumers and show a dedication to the issues important to them.

Edward Sexton Announces Flagship Store Opening on Savile Row, London

Tailoring house Edward Sexton are bringing their luxury menswear back to Savile Row with new flagship store. Savile Row is the world-famous tailoring street in Mayfair, in the heart of London.

Two Australian Brands Share SMS Marketing Tips

SMS marketing is a vital tool for retailers, reaching more consumers and fostering more engagement than email or mail marketing.

Plant-Based Food Sales on the Rise in the UK

Research by the University of Surrey suggests that Veganuary, the annual challenge promoting a vegan diet in the UK, helped drive sales of plant-based foods in the month of January, 2021.

Predicting a More Human Future for Technology in Retail

How have the tumultuous events of the past few years shaped the way we interact with technology? This article from Inside Retail attempts to answer that question from a retail/marketing point of view.

Grocery Chains Kroger and Albertsons Announce $24.6 Billion Merger

Kroger is seeking the merger to compete with Amazon and Walmart, who have both seen increased sales in the face of inflation.

Fashion Retailer Country Road to Fund Climate Change Grant Initiative

Fashion brand Country Road became the first Australian fashion brand to launch a climate fund. The Country Road Climate Fund is a $1.5 million investment into grant funding for climate solutions.

Carnaby and Choose Love Collaborate on Christmas Installation

This year, the 25th anniversary of Carnaby’s immersive displays, Carnaby will team up with charity partner Choose Love to raise awareness of and funds for refugees around the world.

Battersea Power Station Now Open to Public with Shops, Restaurants, and More

Battersea Power Station has long been an iconic London landmark. It has been redeveloped with residential units, shops, restaurants, office spaces, and entertainment venues.

Acrylicize Develops Creative Office Spaces to Bring Employees Back to the Office

There is a tension in this post-pandemic landscape between companies who stress the importance of office culture and want their employees back in the office and employees who find themselves happier,

The Fascinating Story of the Iconic Honey Bear Bottle

Ralph Gamber began selling Dutch Gold Honey in 1946 as a side business. He invented the now-famous bear-shaped bottle in 1957, The plastic, squeezable bottle of honey, first appeared on shelves. Due to the success of A.A. Milne's Winnie the Pooh books, bears and honey were associated.

How Retailers Are Preparing for Holiday Returns

The National Retail Federation statistics cited in the article show that return rates are growing. UPS and Gap are setting up logistics services specifically for returns processes. One suggestion is using more user-generated post-purchase content to give customers a more accurate idea of what exactly the item looks like.

Australian Regulators to Investigate Optus Over Cybersecurity Breach

The stakes for cyber security continue to get higher as Australian regulators opened investigations into Optus, the country’s second-largest telecoms provider, after the personal data from up to 10 million subscribers was stolen after a data breach.

Using Location Technology to Boost Customer Engagement

Radar, a geofencing software provider, has commissioned consulting firm Forrester to produce a white paper that explores the benefits of location infrastructure (such as geofencing) for creating more personalized physical and hybrid retail experiences.

Retailers Embrace Automation for 2022 Holidays

Using automation technology can be a key to offsetting staff shortages in retail.

Sally Beauty to Close 350 Stores

Declining foot traffic is said to be the reason for Sally Beauty Supply's plans to close 350 stores.

Manymoons Investing $4 million in Capital in SoHo

Circular retailer Borobabi has rebranded as Manymoons and is using its recently acquired $4million in capital to build a Circularity Lab in New York City's SoHo neighborhood.

HMV, Lids, and Other New Businesses Coming to Atria Watford

Atria Watford, owned by property company SGS and managed by Global Mutual Properties, is welcoming a diverse range of new businesses to the mall.

SmithGroup Opens Sacramento Office

The new Sacramento office specializes in architecture, interiors, landscaping, and engineering for a number of markets.

Sweaty Betty Opening in Victoria Square in Belfast

Sweaty Betty offers a range of leggings, outerwear, underwear, activewear, and accessories that encourage and empower women through fitness.

Winning Group Turning Retail Success into Climate Action

Winning Group is turning to sustainability to ensure its brands remain strong for years to come. They plan to transform their operations over the next 10 years.

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